ASK Group exits investment in Pune property for Rs. 87 crore.

Private equity firm ASK Group recently said it has exited its investment in a Pune residential project, developed by realty player Darode Jog Properties, for Rs. 87 crore.

The investment of Rs. 37 crore made in the project has given a return of 2.35 times recording an IRR (internal rate of return) of 30%, a release issued.

'This exit yet again demonstrates the success of ASK Group's focused strategy of investing in mid segment residential real estate projects, in top metros, in partnership with experienced and reputed developers,' ASK Property Investment Advisors CEO and Managing Director, Amit Bhagat said.

The Darode Jog Properties investment made in Livano was made over a phased manner between September 2010 and March 2011, from the firm's first Rs. 326 crore special opportunities portfolio, the release said.

BS